Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

The Company disaggregates revenue from contracts with customers into geographic region, product and timing of transfer of goods and services. The Company determined that disaggregating revenue into these categories achieves the disclosure

objective of depicting how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Revenues for the year ended December 31, 2021


(in thousands)
Region	North America	EMEA	Latin America	Asia Pacific	Total Revenue
Product
1-MCP based	$29,966	$63,874	$25,860	$17,195	$136,895
Fungicides, disinfectants and coatings	2,084	17,403	6,720	—	26,207
Other*	585	1,052	1,030	220	2,887
Total	$32,635	$82,329	$33,610	$17,415	$165,989

Pattern of Revenue Recognition
Products transferred at a point in time	$32,147	$81,297	$33,022	$17,225	$163,691
Services transferred over time	488	1,032	588	190	2,298
Total	$32,635	$82,329	$33,610	$17,415	$165,989

Revenues for the year ended December 31, 2020


(in thousands)
Region	North America	EMEA	Latin America	Asia Pacific	Total Revenue
Product
1-MCP based	$31,658	$61,902	$23,710	$15,453	$132,723
Fungicides, disinfectants and coatings	1,066	16,442	4,082	—	21,590
Other*	1,035	1,069	939	287	3,330
Total	$33,759	$79,413	$28,731	$15,740	$157,643

Pattern of Revenue Recognition
Products transferred at a point in time	$32,771	$78,389	$28,162	$15,457	$154,779
Services transferred over time	988	1,024	569	283	2,864
Total	$33,759	$79,413	$28,731	$15,740	$157,643

*Other includes FreshCloud, technical services and sales-type leases related to AgroFresh Fruit Protection.

Schedule of changes in contract assets and liabilities

The following table presents changes in the Company’s contract assets and liabilities during the twelve months ended December 31, 2021:


(in thousands)	Balance at December 31, 2020	Additions	Deductions	Balance at December 31, 2021
Contract assets:
Unbilled revenue	$1,484	17,617	(18,306)	$795
Contract liabilities:
Deferred revenue	$1,474	4,123	(4,962)	$635

The following table presents changes in the Company’s contract assets and liabilities during the twelve months ended Balance at December 31, 2020:


(in thousands)	Balance at December 31, 2019	Additions	Deductions	Balance at December 31, 2020
Contract assets:
Unbilled revenue	$1,666	13,624	(13,806)	$1,484
Contract liabilities:
Deferred revenue	$1,175	5,348	(5,049)	$1,474

Schedule of estimated useful lives

Estimated useful lives are as follows:


Leasehold improvements			Shorter of useful life or lease term
Machinery & Equipment			1—12 years
Furniture			1—12 years